shipping news 2013

7/27/2019 Shipping news 2013

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DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2013 207

Distribution : daily to 26250+ active addresses 26-07-2013 Page 1

Number 001 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Friday 26-07-2013News reports received from readers and Internet News articles copied from various news sites.

The EENDRACHT is operated by Amasus shippingPhoto : Jan van Vuuren
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EVENTS, INCIDENTS & OPERATIONS

The OOCL BERLIN in Rotterdam-Europoort Photo : Teun Put

Summer lull chipping away recent gainsin dry bulk freight rates

In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept onretreating yesterday, even if this reduction is marginal. Traditional summer lull is thought to be the main reason for thefact that freight rates have been losing ground in the past couple of weeks, even if this fall is bit by bit. Yesterday, theBaltic Dry Index (BDI) was down 10 points, to 1,117. The fall was more obvious in the larger ship classes, with theCapesize Index losing 20 points and the Panamax one another 14 points. According to the latest weekly report fromshipbroker Fearnleys, in the Capesize market, "the general theme in both the Pacific and Atlantic is that rates areholding steady. Slightly lower numbers, around the USD 14k mark, have been fixed on T/A, which are sure to come
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under pressure due to the mining strike at Drummond in Columbia. The fronthaul market continues to be activelyfixed, with the C3 index Tubarao/Qingdao now marked at USD 20 PMT. West Australia holds steady at USD 7.75 PMT -however in general, time charter rates in the Pacific have come off, due to a squeeze on the current coal prices. Shortperiod numbers remain healthy with close to USD 14k obtainable for periods of 10 months and over", Fearnleysnoted in its report.On the Panamax market, the shipbroker commented that "last week we experienced an upturn in rates in bothhemispheres. This came to an end on Monday when the market all of a sudden turned quiet again. We have seen littleactivity although some deals are concluded and the levels are about USD 100 down w-o-w. In the Pacific we still get asteady push with coal cargoes from Aussie and rounds are being concluded in region of USD 7k while the Atlanticrounds are fixing around the 11-12k mark. Period activity has been next to non-existing, however takers are there forwide spread periods with optionality. We feel the summer lull is all over us and believe rates will continue to slideslowly throughout the week". Finally, in the Handy front, it noted that "the Far East market remains quiet even if someIndo coal trip orders were fed in the market at early this week. Prompt ships passing Singapore fixed around USD 11kfor trip to India while rate for Indo/China is only slightly below. There were some short period fixtures reported ataround low/mid USD 9k levels for 3-5 months. In the Indian Ocean vessels were fixed for trips via S.Africa to Feast ataround USD 9k + 300 gbb. Also more cargo from Iran to China is in the market, trading between USD 11-12k",Fearnleys concluded. Meanwhile, in the ever so important field of demolition activity, Golden Destiny noted in its latestweekly report that "the monsoon season and the depreciation in Indian rupee are persisting to depress scrap pricelevels, while in Bangladesh the onset of Ramadan period keeps the momentum weak with silent scrapping business",

said the Piraeus-based shipbroker. In total, 25 vessels were sold for demolition over the past week, equalling adeadweight of 1,377,479 tons. Out of these ships, eight of them were dry bulk carriers. In terms of the number oftransactions, demolition activity was up by 39% week-on-week. The largest activity is recorded in the bulk carrier andliner segments by holding 32% share each of this weeks activity against 12% share from tankers. In terms ofdeadweight sent for scrap, there has been 114% weekly increase with 2 VLCC tankers sent for disposal and 1 verylarge ore capesize bulker. According to the report, "India is reportedly to have won 10 of the 25 demolitiontransactions, Bangladesh 4, China 4, Turkey 3, 4 demolition transactions are reported at no revealed destination.Benchmark scrap prices in the Indian subcontinent region: $380-$385/ldt for dry and $410-$415/ldt for wet cargo.Scrap prices in China have increased by $10/ldt at $320/ldt for dry and $330/ldt for wet cargo", the report concluded.Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide

TheXIN OU ZHOU was the second vessel ofChina Shipping to call at Antwerp in the AEX1 service between the FarEast and Europe. She is pictured in the famous Pass of Bath enroute to the Belgian port.

Photo : Adri de Schipper
http://www.tschudioffshoretowage.com/


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Merchant ships to help boatThe Navy says merchant ships at sea off the southern coast have been asked to assist a boat stranded with suspectedasylum seekers onboard. Navy spokesman Kosala Warnakulasuriya said that the navy had received information aboutthe boat and they had directed ships in the vicinity to assist the boat as it would take time for navy boats to reach thearea. The boat with at least 70 people is reported to have gone missing after it left Mirissa and was heading to

Australia last week. The boat with mostly Tamils had left on July 17th and is believed to have faced engine troublehalfway through the journey, our reporter in the area said. The attempt to reach Australia by boat came despite theannouncement that under a new agreement reached between Australia and Papua New Guinea (PNG), asylum seekerswho travel to Australia by boat without a visa will never be settled in Australia but in Papua New Guinea.

Under the new arrangement signed with Papua New Guinea unauthorised arrivals will be sent to Papua New Guineafor assessment and if found to be a refugee will be settled there. Regional processing arrangements in Papua NewGuinea will be significantly expanded and people will be sent to Manus Island as soon as health checks are completeand appropriate accommodation is identified. Source : Colombo Gazette

Cobelfrets AMANDINE in Rotterdam-Botlek - Photo : Rob de Visser

Cyprus Shipping industry calls for thelifting of capital controls

Cyprus shipping industry has called for the lifting of capital controls on the Cypriot economy, imposed since the 10billion agreement reached between Cyprus and its international lenders in late March. A delegation of the CypriotShipping Chamber (CSC) met with a delegation of the Troika mission, in Cyprus for the first review of the adjustmentprogramme. CSC Director-General Thomas Kazakos said he briefed the Troika technocrats on the Shipping`scontribution to the Cypriot GDP which in 2012 stood at 7% Noting that shipping remains a steady lifeline to theeconomy, Kazakos said the Chamber from the first days of the bailout agreement has been requesting the lifting ofcapital controls the soonest possible to help restore Cyprus` image as an international financial centre. Cyprus and theEuropean Commission, the European Central Bank and the IMF agreed late March on a 10 billion bailout programme,which featured a haircut on uninsured deposits in the island`s two largest banks. The bailout was coupled with strictcapital controls which economist say hamper economic activity. Source: Famagusta Gazette

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DAN TYSK (OSS) DEPARTED FROM ROTTERDAM

Earlier this week did see the departure of the transport bargeWAGENBORG BARGE 8 loaded with the Hollandia Strukton built DAN TYSK jacket and topside from Rotterdam ,above and left seen the transport passing Rotterdam city centre

assisted by the tugs BROEDERTROUW XIV, GEPKE III, BROEDERTROUW XV and BROEDERTROUW 4 Photos left + top : Leo Leusink ALP Maritime Services

Photo : Wouter van der Veen

Dantyskis a windfarm located 70 kilometres westof the German island of Sylt, in the North Sea.

''The DanTysk wind farm is composed of 80(3.6MW) turbines, with a total production capacityof 288MW. The Offshore Substation (OSS) isresponsible for receiving the voltage from the windturbines at 33kV level, and converting it to 155kV

level for transmission to the SylWin HVDC station,for further transport to the main land electricitygrid. Once fully commissioned and connected tothe grid, DanTysk will be able to supply enoughenergy for 500,000 households in Germany.''

Photo Left : Hans Hoffmann


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After passing the bridges the tug SVITZER THORconnected up to the WAGENBORG BARGE 8 and commenced thetrip to the installation location Photo: Hans van der Linden www.aerolin.nl @AerolinPhoto BV

Newbuilding deliveries skyrocket overthe past week, second highest this year

Ship owners appear to be unaffected by the global economical uncertainty and the oversupply problems which haveimpacted many of shipping's submarkets. As it seems, affordable finance and low prices make the case for movingforward with new orders, even if shipping markets take a while longer before they recover to sustainable levels.According to the latest report from Piraeus-based shipbroker Golden Destiny, last week saw a total of 71 ship orderswith a deadweight capacity of 3,572,076 tons, while 37 transactions were reported at an undisclosed contract price.The invested capital revealed is about $4,8bn for 34 new orders. (25 bulkers, 5 tankers, 5 gas tankers, 6 containers, 3passenger/cruise, 1 Ro-Ro, 2 car carriers and 24 special projects).
http://www.vlierodam.nl/


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According to Golden Destiny, it was the second highest weekly number of orders this year, since the 83 orders placedduring the week which ended on April the 26th. This week's orders represent an increase of 58% week-on-week and122% year-on-year. "The largest volume of newbuilding activity is reported in the bulk carrier and offshore segmentwith 25 and 24 new orders respectively. Bulk carriers and special projects held 35% and 34% share respectively of thisweeks volume of new orders against 7% share from tankers and 8% share from containers. At the similar week of2012, 32 fresh orders had been reported with the largest volume of newbuilding activity in the tanker segment 20new orders. Compared with previous weeks levels, a large increase of 150% in the volume of new orders is recordedin the gas tanker segment (5 new orders from 2 last week), in the bulk carrier segment- 67% increase (25 new ordersfrom 15 last week) and in the offshore segment- 100% increase (24 new orders from 12 last week). In terms ofinvested capital, a hefty amount of money is invested in the special projects segment, 53% share of the total investedcapital due to the construction of high valued drillships at South Korean yards from Norwegian owner, Seadrill.Passenger/cruise follow with 19% share from the construction one cruise vessel from Norwegian Cruise Line. Hellenicshipping players monopolized this weeks tankers contracting activity for crude carriers, suezmax and aframax, whileAsian players bulk carriers new orders", Golden Destiny noted. According to the shipbroker, in the dry bulk marketthere were 25 new orders, up 67% week-on-week and up 525% year-on-year, with only 4 new orders at similar weekin July 2012. (15 new orders reported at Chinese and 10 at Japanese shipyards).The invested capital is estimated inthe region of more than $380,2 mil. The largest volume of newbuilding activity is reported in the handysize segmentwith also noticeable levels of activity for capesize and ultramax bulkers.In the Capesize market, there were six new orders, out of which 4 new orders were for 186,000dwt vessels, an order

submitted by U-Ming of Taiwan at Shanghai Waiqaoqiao Shipbuilding at a price in the region of $46,8 mil each asconverted options from an original order placed in mid-February. An additional two new orders were given from StarBulk Maritime of Greece at Shanghai Waiqaoqiao Shipbuilding at a price in the region of $47,5 mil each. In theUltramax segment, Golden Destiny reported five new orders, four of which came from undisclosed investors atChina's Jiangsu New Yangzijiang Shipyard. Finally, in the Handysize segment, there were orders for 12 vessels in total.Meanwhile, according to Clarkson Hellas' weekly report, "in the container market Bernhard Schulte have declared afurther four options for 2,300 TEU container carriers at Zhejiang Yangfan. This follows the original orders for four firmvessels placed in the fourth quarter of last year. Pricing of these most recent orders is understood to lie at USD 26.5Mill per vessel with delivery from March 2015. Looking at the gas market it has come to light that Navigator Gas haveplaced further orders at Jiangnan Shipyard for LPG/Ethylene carriers. This most recent order is made up of a single21,000 CBM LPG/Ethylene carrier, which will be the 5th in the series and an order for two firm plus two option 22,000CBM LPG carriers. Delivery for all three firm vessels planned for 2015 with the options in 2016 if declared", theshipbroker concluded. Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide

The CALIDRIS in Otago harbour Photo : Ross Walker

After fake SOS call, officer hit during arrestA sailor broadcast a fake SOS call in an Australian accent, saying his "mate" had fallen overboard, before warningCoast Guard crews that his was a "peace ship" and that any attempt to board would be an "act of war," authoritiessaid in court records. David McCormick appeared Tuesday in U.S. District Court in San Francisco on charges of


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communicating false distress, failure to "heave to" and assault on a federal officer for the weekend incident offSausalito.

About 9 a.m., Sunday, the Coast Guard received a call "from a male voice with an Australian accent saying, 'Maydayrelay, mayday relay, spots overboard, oh he's over mate and he need some help. He's over, um in the fog somewherein the bay, I don't know where, but I'm trying to search for him so if you boys got a pretty quick boat to whip overhere, get over here, jiffy, cheers buddy thanks,' " an investigator wrote in an affidavit. In response, the Coast Guardsent a helicopter to search the area, wrote Special Agent Brandon Trinidad of the U.S Department of HomelandSecurity, U.S. Coast Guard Investigative Service.

About noon, the same man contacted the Coast Guard to report that his "best mate" had been found, Trinidad wrote.

Coast Guard crews found McCormick on his 45-foot sailboat, the Fortune, moored off Sausalito and requested to comeaboard, but McCormick told them, "This is a peace ship and any attempt to board my vessel is an act of war," theaffidavit said.

McCormick also told the Coast Guard that he had "ordnance onboard his vessel to defend himself" before he cut hisanchor line and sailed away, authorities said. For the next six hours, several Coast Guard boats chased McCormick.About 7:15 p.m., as the boat was about 2 1/2 miles off Ocean Beach, a crew boarded the boat. McCormick told themto remove their duty weapon belts and became upset when told that his "voyage was being terminated," Trinidadwrote. McCormick "raised his fist as the officer attempted to handcuff him, then flailed his open hands, striking thefederal officer approximately three times in the face," Trinidad wrote. Source : San Francisco Chronicle

Sunset at the Humber gateway Wind Turbine park with theVOS SATISFACTION as seen from theVOS SWEETPhoto : Bouke Proc

Seadrill Ltd Launches Mandatory Offerfor Sevan Drilling ASA
http://www.tos.nl/


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Sevan Drilling ASA announced that Seadrill Ltd (the Offeror) has communicated the launch of the Mandatory Offeron the terms and conditions set out in the offer document dated July 24, 2013. A cash consideration of NOK 3.95 willbe offered per share, equaling the cash offer in the completed Acquisition. The acceptance period commences on July25, 2013 and expires at 16:30 (CET) on August 22, 2013. DNB Markets is acting as financial advisor and receivingagent for the Offeror. Source : Reuters

The MSC LAURENCE arriving in Zeebrugge Photo : Henk Claeys

Debris from Container ship washed ashoreSix gas tanks and some articles have been washed ashore at different places in coastal Kasaragod over the past twodays. The coast guard said the articles were part of the debris from a container ship, MV Mol Comfort, which hadsunk in the Indian Ocean last month. While three capsule tanks held together by iron frames were spotted on Berikkabeach on Tuesday, three separate tankers were washed ashore at Kottikulam, Janma and Megral beaches onWednesday. According to the Kasaragod coastal police, the tanks with 24,000 litres capacity had "refrigeration gas"painted on them. The police have alerted the Indian Navy and the coast guard.

The police said though some other objects, including footballs, refrigerators and gas canisters had been washedashore on various occasions, it was the capsule tanks that had caused panic. Police have asked local residents to stayaway from the tanks. The coast guard, however, said there was nothing to panic.

"According to our investigation, the cylinders and other articles were from the derelict ship MV Mol Comfort that had

sunk 430 nautical miles off the Mumbai coast on July 11, and the ship's agent had confirmed that it contained suchmaterials," said K Yoosaf Ali, deputy commandant, Indian Coast Guard Station, Beypore. "We have informed theSingapore office of the ship's agent oand they have been asked to clear the beaches." The coast guard have spottedanother tanker nearly 40 nautical miles off the Kozhikode coast. Debris has also been washed ashore at Kadmat inLakshadweep. The 316-metre-long MV Mol Comfort, ferrying 4,500 containers, broke apart while sailing to Jeddahfrom Singapore on June 17. Efforts to tow it ashore failed, and it sank later. All the 26 crew members had beenrescued. Immediately after the shipwreck, there were unconfirmed reports that the vessel was carrying huge quantityof weapons from the US for Free Syrian Army, the Syrian rebels. Source : Indiatimes

Spliethoffs SPAARNEGRACHT leaving, stern first, from Port Fourchon Photo : Mike van der Plas


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CASUALTY REPORTING

30 rescued after tall ship hits rocks offCork coast

Thirty people on board the Astrid tallship were rescued off the Cork coastafter their ship hit rocks and startedtaking on water. A major emergencyoperation got under way after the 42-metre Dutch training vessel hit rocksand began taking on water. Thirty

people on board the tall ship wererescued.The RNLI and coastguard responded tothe situation at Oysterhaven, nearKinsale, after midday.Two search and rescue helicopterswere dispatched to the scene whilelifeboats from Kinsale, Crosshaven,Courtmacsherry and Ballycotton were

also involved in the rescue. There were strongwinds in the area at the time. TheCourtmacsherry Lifeboat said it rescued 18 crewmembers. The other 12 crew members werepicked up separately by the Spirit ofOysterhaven yacht and brought to Kinsale Pier.A medical team from Cork University Hospital wassent to the scene to assess them, but there wereno reports of injuries. The waters betweenOysterhaven and Kinsale are particularly busy asthe Gathering yacht race, which left Dublin lastSaturday, departed Oysterhaven for Kinsaleearlier. The RNLI said it was still uncertain why the

Astrid got into difficulties. Irish Coast Guardspokesman Declan Geoghegan paid tribute to the
http://www.multraship.com/


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RNLI lifeboats and other rescue services that operated in poor conditions. He said: "The operation was quite difficult,not alone because the area was busy with traffic, but also there was a four-metre swell and a blowing southwesterly

force four to five. "Soit was a delicateoperation to get all thecasualties off thestricken vessel and I'dlike to commend allthose involved." Thevessel had visitedKinsale on a journeyfrom Southampton toCherbourg in France.The Astrid was builtin 1918 as a luggerand up to about 1975she carried cargo onthe Baltic Sea. After aperiod under the

Lebanese flag, whichended in a fire, she came into British hands in 1984. She was completely overhauled and got her impressive rigging forAtlantic crossings as a training vessel. The Astrid was then converted into a traditional, luxury sailing vessel. Source: RTE New Ireland

File photo of theASTRID in better times at the WesterscheldePhoto : Wim Kosten www.maritimephoto.com (c)

Loss of well control on rig in U.S. GulfThe Bureau of Safety and Environmental Enforcement (BSEE) will be conducting an investigation into the cause of theloss of well control event aboard a Hercules jack-up rig in 154 feet of water 55 miles offshore Louisiana.
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A BSEE photo of the Hercules 265jack-up rig showing cloud of natural gas resulting from a loss of well control event

The BSEE and the U. S. Coast Guard have stood up a Command Center in their continued response to the loss of wellcontrol. According to the BSEE, the operator, Walter Oiland Gas Corporation, experienced a loss of control of WellA-3 at about 8:45 a.m. on an unmanned platform atSouth Timbalier Block 220 while doing completion workon the sidetrack well to prepare the well for production.

Walter Oil and Gas reported the safe evacuation of 44personnel, corrected from earlier reports of 47, from theHercules 265 jack-up rig. The personnel wereevacuated to the platofrm supply vessel Max Cheramie,according to sources.

Natural gas continues to flow from the well. Based on anearlier overflight of inspectors, BSEE also reports "a cloudof natural gas above the rig and a light sheen on thewater one-half mile by 50 feet in area that is quicklydissipating."

BSEE Gulf of Mexico Regional Director Lars Herbst said,BSEEs efforts today are focused on bringing this loss of

well control event to a safe resolution. Offshore oil and gas operators need to re-affirm their aggressive approach tothe safety of well operations in light of this event and other recent well control events.

The nature of the blowout is unknown. The rig repordtely had two 10,000 psi Blowout Preventers (BOPs)manufactured by Cameron.

A firefighting vessel is expected to be on location this evening with both water and foam fire fighting abilities. WalterOil and Gas Corporation will be conducting a site assessment prior to beginning any work on the well. BSEE will bereviewing and approving all plans and procedures to stop the flow of gas and secure the well.

The U.S. Coast Guard is providing safety management oversight and have deployed the following resources: the 87-foot Coast Guard Cutter and crew Pompano, one MH-65 Dolphin helicopter from Coast Guard Air Station New Orleansand one HC-144 Ocean Sentry from Coast Guard Aviation Training Center Mobile. Source : MarineLog

NAVY NEWS

Royal Navy gets Merlin Mk2 helicoptersFive upgraded Merlin helicopters featuring a range of advancements have been handed over to the Royal Navy, theMinistry of Defence has confirmed. A total of 30 Fleet Air Arm helicopters are being upgraded under a 750m deal withLockheed Martin.

The Merlin Mk2 is said to represent the next-generation of anti-submarine maritime patrol helicopters, withimprovements also set to enable the helicopters to carry out counter-piracy and casualty-evacuation duties.

The upgraded Mk1 aircraft have been fitted with advanced glass cockpits, improved avionics and consoles, touchscreen displays and an improved ability to share data with other aircraft and ships and to detect and track targets.

After undergoing extensive trials the first helicopters are expected to be ready to deploy by the summer of 2014.

Commander Ben Franklin, commanding officer of the Merlin Helicopter Force, said: "The delivery of the first fiveaircraft to the Royal Navy's Fleet Air Arm is a real milestone of this successful programme, which will provide vital


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support to the navy as it fulfils its role in protecting UK interests across the globe." Commodore Andy Lison,responsible for the Merlin, Lynx and Sea King teams in MOD's procurement body Defence Equipment and Supportadded: "I am delighted that we are now firmly in the delivery phase of the project. The Merlin Mk2 is a trulyexceptional aircraft and the programme to develop and build this aircraft has brought together the very best of MoDand defence industry to future-proof this vital capability for defence." Source : defence management

The 1973 built Indonesian (ex German Kondor-II-class patrol minesweepers) 729 PULAU REMPANG ( exGrimma 336 ) moored in Batam Photo : Capt. Jelle de Vries

Mine warfare ship to be deployed to GreatBarrier Reef to hunt bombs dropped by US

Marine HarriersA SPECIALIST mine detector ship will be brought in to search for four bombs dropped last week in the Great BarrierReef Marine Park by US Marine Corps Harrier jets. The vessel would need to travel either from the 7th Fleet's homebase in Japan or Fleet Base East in Sydney Harbour if a request was made to deploy a Royal Australian Navy Minehunter fitted with a towed magnetometer.

While US Navy sources said the chances of theweapons exploding were virtually nil the US Navysays it will support whatever course of actionAustralia decides to take in regards to retrieval.Commander of the US Seventh Fleet Vice AdmiralScott Swift said he would have been surprised ifthere had been less of a reaction from Australiansabout the incident.

Two Marine Corps Harrier jump jets were forcedto jettison their munitions - one inert practicedumb bomb and an unfused high explosive laserguided weapon - in 55 metres of water offRockhampton. Speaking on board the vast aircraftcarrier USS George Washington about 200 kms

off the Queensland coast, Admiral Swift said the incident was not entirely unexpected. He said during a complexmilitary exercise such as Talisman Saber, involving 20,000 American and 10,000 Australian personnel and dozens ofwarships and aircraft, a number of things can go wrong.

"Some of which we can control and some of which we can't control,'' Admiral Swift said.


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He said the decision on whether to salvage the weapons or leave them in place was entirely a matter for the AustralianGovernment. "In the past decisions have been made that it would be best to leave them in place and decisions havebeen made to remove them.

"Once a decision is made we will work closely with whoever is designated to remediate it and if that means theremoval of the weapons I would be happy to participate.'' A source said: "The Americans are trying to locate amoderate deep sea magnetometer to find the bombs.''

Dive teams have been sent to the area to try and locate the weapons, but Navy sources said it would require specialistunderwater detection equipment to identify the bombs.

If the bombs cannot be recovered a warning will be issued in a notice to mariners and the inert weapons will be left insitu at a depth well below any possible risk to shipping. If the weapons were jettisoned outside the marine park theywould simply be left in the deep water like thousands of tonnes of explosive ordnance dumped around the Australiancoastline, in places such as John Brewer Reef off Townsville, following World War 2.

Green groups have reacted angrily to the emergency although the Great Barrier Reef Marine Park Authority said it wasnot too concerned about the bombs. Admiral Swift said there was risk associated with everything. "There is also riskassociated with not training a military force.''

The 100,000 tonne USS George Washington will operate in the Coral Sea until July 29 when she will spend fivedays in Brisbane where her 5500-strong crew will spend millions of dollars. Yesterday she conducted flight operationsabout 200km east of Rockhampton and her 220 colour coded flight deck crew launched fighters in that catapult off the

deck in clouds of steam travelling from zero to 220km/hr in two seconds.The carrier's battle group consists of 13 ships, including the Australian frigate HMAS Sydney, and about 8000 sailorsand aviators. The flag ship carries 65 Hornet strike fighters and electronic warfare aircraft and 11 helicopters. She is 28storeys high and has 18 decks. About 400 Australian military personnel are embarked on the US command ship USSBlue Ridge and USS George Washington for Talisman Saber.

SHIPYARD NEWS

Banks raise bar on loans to China shipyardsas Beijing targets overcapacity

By Rujun Shen and Ruby Lian

Banks have tightened lending to Chinese shipyards, putting more pressure on an industry that is already suffering fromsluggish demand and a supply glut, as Beijing tries to cut excess capacity across a range of sectors.

The financing squeeze is set to hit less established yards, but could strengthen bigger players such as YangzijiangShipbuilding Holdings and South Korean rivals.

Some banks have started asking for more prudent ship construction contracts before they grant loans and havewithdrawn loan approval rights given previously to branches, industry and banking sources told Reuters.

They are asking the yards to get clients to put upfront payments of at least 15 percent now in order to get loans, saidan executive at a large Chinese shipyard, who did not want to be identified as he was not authorised to speak to themedia. Some yards had offered generous terms to shippers, requiring payments upfront of as low as 1 percent.

In some cases the banks are also cutting credit lines and moving to recover outstanding loans, said the ChinaAssociation of the National Shipbuilding Industry.

"As the shipbuilding market remains depressed, banks and other financial institutions have listed shipbuilding as a keyindustry for credit control," the association said in a comment on its website posted on July 18. (www.cansi.org.cn)
http://www.mariflex.net/


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An executive at a private shipyard in eastern China said banks had demanded yards charge as much as 30 percent inupfront payments from their clients. State-owned shipbuilders, though, could get easier credit terms, the executiveadded.

The bank measures come as China's cabinet said this month it would cut off credit to force consolidation in industriesplagued with overcapacity. This was shortly after China Rongsheng Heavy Industries Group, the country's largestprivate shipbuilder, fell into financial turmoil.

Beijing did not specify then the industries it had in mind, though in 2009 it named nine, including shipbuilding.Industry sources said neither the banking regulator nor any central government agency had issued new rules ontightening lending to shipyards or other industries.

China rivals South Korea as the world's top shipbuilder, though the ships built in China are mostly of lower value andless complex technologically. This has forced Chinese yards to compete on price and financing terms for orders thathave slowed to a trickle since the global financial crisis.

At the end of May, the orderbook of Chinese yards stood at $68.5 billion, second to South Korea's $102.5 billion, eventhough China's orderbook in tonnage terms exceeded South Korea's, data from Clarkson Research Services Limitedshowed.

"The goal is to gradually cut down the credit but not to kill all of them at one go," said a banking source, who did notwant to be named due to the sensitivity of the matter. "As the economy is not doing well, banks aren't willing to lendas much anyway."

The size of outstanding loans at shipyards is unclear, but many banks are involved in handing out these loans,including top commercial banks such as Industrial and Commercial Bank of China (ICBC), China Construction Bank,Agricultural Bank of China, Bank of China Ltd and Bank of Communications. ICBC declined to comment on lending toshipyards when contacted by Reuters. Other banks could not be reached immediately.

Total profit from the 1,647 Chinese shipyards whose core business revenue exceeded 20 million yuan slumped 29.1percent on the year to 28.8 billion yuan ($4.69 billion) in the first 11 months of 2012, according to industry associationdata.

"Affected by banks' restriction on loans, shipyards are facing tight working capital and difficulty in purchasing rawmaterials and equipment, which results in increasing phenomenon of delayed payment to suppliers and staff," theassociation said.

But the Export-Import Bank of China, a policy bank and an active player in shipping finance, said it had not changedits criteria for funding ship construction recently. "We will continue to support qualified clients," said Chen Bin, deputy

general manager of the bank's transport finance department.Ex-Im Bank had about $13 billion in outstanding shipping loans in May, up 30 percent from the end of 2011, Chen saidearlier this year.

Despite China Rongsheng's troubles, large and financially sound yards in China, as well as yards with a good trackrecord outside China, are expected to benefit, analysts said.

"It depends on the conditions at your shipyard. Well-run companies don't have any problem," said Ren Yuanlin,chairman of Yangzijiang Shipbuilding, when asked if the company has facing tightening credit. Singapore-listedYangzijiang has won new orders worth $1 billion so far this year. Source : Reuters

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Port Weller shipyard operator files forbankruptcy
mailto:[email protected]:[email protected]:[email protected]:[email protected]


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Seaway Marine and Industrial, which has operated Canada's Port Weller dry docks since 2007, filed for bankruptcyMonday owing $12 million to 208 creditors. The company is a member of Upper Lakes Group, which claims it is owed$6.9 million of the total.

Bankruptcy proceedings are being managed by Ernst & Young, Toronto. According to local media reports, they areexpected to begin in August with a first meeting of creditors. The St Catharines, Ontario, Standard reports that thebankruptcy declaration came as a surprise to St. Catharines MP Rick Dykstra, who has helped lobby for federal dollarsto support the shipyard. The declaration of bankruptcy of Seaway Marine, which has run the docks since 2007, alsocame as a surprise to St. Catharines MP Rick Dykstra, who has helped lobby for federal dollars to support the shipyard.

The Port Weller Dry Docks facility is a Canadian federal asset located on the Welland Canal near St. Catharines andmanaged by the St. Lawrence Seaway Management Corporation Canada's Economic Action Plan 2013 proposes toprovide up to $5 million to support the replacement of the main gate and other required repairs at the Port Weller DryDocks, which are 80 years old, "contingent on the private sector partner leasing the property contributing funds thatmatch the federal investment."

Mr. Dykstra told the Standard that the federal funding allocated for the repairs has not yet been used.

He said the bankruptcy filing was "obviously disappointing," adding that "the last time this happened (in 2007) anothercompany came in quickly. So in some ways, this filing for bankruptcy could make it easier for that to happen again."

He said that although major shipbuilding projects have been moved overseas to China, repairs and refits are done inCanada, so the potential for more work in Port Weller exists. Source : MarineLog

Hakvoort Shipyard Launches Its LatestYacht in Style

It is tradition for yachts to be christened with a bottle of Champagne, but sometimes owners add a little more to theceremony. That was the case when the 130-foot Apostrophe launched at Hakvoort Shipyard. The owner invited a

Russian Orthodox priest to blesshis gray-hulled beauty, as wellas those who plan to cruiseaboard it. Apostrophe is theowners first megayacht. Hepreviously enjoyed travel aboard

smaller boats, and spared noexpense when working toproduce this magnificent vesselwith Hakvoort and withReymond Langton, which wasresponsible for the yachtsexterior styling and interiordesign. That cost-is-no-objectphilosophy really shines throughin Apostrophes interior, whichtreats eight guests lavishly. It isexquisitely fashioned in art-deco

style, with abundant designelements in ebony, walnut, mother-of-pearl, brushed nickel, and more. Hakvoort expects the yacht to attend theMonaco Yacht Show in September.www.hakvoort.com/ source : Robbreport

BAE San Diego Ship Repair securescontract modification for DDG 65

According to the US DoD contract announcement, BAE Systems San Diego Ship Repair Inc., San Diego, Calif., wasawarded a $38,601,943 modification to previously awarded cost-plus-award-fee contract (N00024-11-C-4408) on July19, 2013, to definitize the USS Benfold (DDG 65) fiscal 2013 extended selected restricted availability.
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Work will be performed in San Diego, Calif.,and is expected to be completed by August 2014. Fiscal 2013 Operationand Maintenance and Other Procurement, Navy funding in the amount of $38,601,943 will be obligated at time ofaward. Contract funds in the amount of $11,788,829 will expire at the end of the current fiscal year. The SouthwestRegional Maintenance Center, San Diego, Calif., is the contracting activity. Source : PortNews

ROUTE, PORTS & SERVICES

The WASHINGTON EXPRESS enroute Antwerp Photo : Teun Put

Linea Messina moves Naples calls toSalerno

In the past week, Italy's container-roro specialist carrier Linea Messina has moved all but one of its calls at Naples to

Salerno, a small multipurpose and container port south of the capital of Italy's Campania region. At Salerno, theMessina ships now use the Gallozzi Group's SCT terminal. The shipping line said that the change of port would concernall former Naples calls, with the exception of its service to Libya (#1650), which will continue to call at Naples' SoTeCoTerminal.

Both the Mediterranean to Middle East conro service (#1645) and the Mediterranean to East and South Africa conroservice (#1646) have already been moved to Salerno. The change of port appears not to concern the lolo-containerservices that call at Naples and on which Linea Messina buys slots, but only the carrier's own services operated withcontainer roro tonnage.

On the contrary, the CMA CGM-operated Naples to Sicily, Malta and Calabria feeder 'FAS2' (#817), on which LineaMessina slots, will drop its Salerno call in late August, but will continue to call at Naples. Source : Linervision
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TheANNETTE arrived in Rotterdam with onboard the Damen Singapore built FCS 2610s MSC BOREAS and MCSCORONELL - Photo : Ria Maat

Coscol places orders for four 36,000

dwt multipurpose shipsThe Cosco Group's breakbulk, mpp and heavylift branch Coscol announced that it ordered four 36,000 dwtmultipurpose vessels at Nantong Cosco KHI Ship Engineering (NACKS). Coscol therewith firmed up a letter of intendthat it had signed with the shipbuilder in May. The ships were ordered through Coscol's wholly-owned subsidiary inHong Kong. The company said in a statement that it planned to fund the vessels through a combination of equity(30%) and bank loans (70%). The price of the ships has not been disclosed but is believed to be USD 33.67 millionper units. Two ships of the quartet are scheduled to come on stream in 2015, with the remaining two units to bedelivered in 2016. The Nantong shipyard is a (half-) sister company of Coscol since Nantong Cosco KHI ShipEngineering is a joint venture between China's Cosco Group and the Japanese Kawasaki Heavy Industries Group.Source : Linervision

Janette B became the Marineco India at Lowestoft before her voyage to work in Romania. Photo : John Soanes
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Navios Maritime Acquisition CorporationAnnounces Delivery of One

Chemical/Product TankerNavios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the NaveUniverse, a new building chemical tanker vessel of 45,313 dwt, was delivered from a South Korean shipyard on July22, 2013. The Nave Universe has been chartered out to a quality counterparty for two years at a rate of $14,869 netper day, plus 50% profit sharing based on a formula. The charterer has been granted an option for an additional yearat a rate of $16,088 net per day, plus 50% profit sharing.The Nave Universe is expected to generate approximately $3.0 million of annual base EBITDA ($6.0 million ofaggregate base EBITDA for the charter period) assuming operating expense approximating current operating costs and360 revenue days per year.Fleet UpdateFollowing the delivery of the Nave Universe, Navios Acquisition has 28 vessels in the water. The average charter-outperiod of Navios Acquisition's fleet is 2.5 years. Source: Navios Maritime Acquisition Corporation

The SEVEN OCEANS seen in Guanabara Bay Photo : Jim Plug

Dryships announces ocean rig employmentupdates for the Ocean Rig Skyros

DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargoes, andthrough its majority owned subsidiary, Ocean Rig UDW Inc. (Ocean Rig), of offshore deepwater drilling services,today announced that Ocean Rig : - Has si gned definitive documentation with Total E&P Angola, following thepreviously announced Letter of Award, for its ultra deepwater drillship Ocean Rig Skyros, said in the company's pressrelease.

The contract is for 5 wells or a minimum of 275 days for drilling offshore West Africa, with an e stimated backlog of

approximately $190 million, and is expected to commence upon delivery of the drillship from the shipyard, in October2013. - H as received a Letter of Award for its ultra deepwater drillship Ocean Rig Skyros, from a major oilcompany. The Letter of Award is for a 6 year contract for drilling offshore West Africa, with an estimated backlog ofapproximately $1.3 billion. The Letter of Award is subject to completion of definitive documentation and receipt ofregulatory approvals. The contr act is expected to commence in direct continuation of the previous contract before thefirst quarter of 2015. As a result of this LOA, as of today, Ocean Rig s total contracted backlog (including LOAs) standsat about $6.1 billion, primarily with investme nt grade or strong counterparties. About DryShips DryShips Inc. is anowner of drybulk carriers and tankers that operate worldwide.

Through its majority owned subsidiary, Ocean Rig, DryShips owns and operates 10 offshore ultra deepwater drillingunits, comprising of 2 ultra deepwater semisubmersible drilling rigs and 8 ultra deepwater drillships, three of which arescheduled to be delivered to the Company during 2013 and one of which is scheduled to be delivered during 2015.DryShips own s a fleet of 42 drybulk carriers (including newbuild ings), comprising 1 2 Capesize, 28 Panamax and 2


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Supramax, with a combined deadweight tonnage of about 4.4 million tons, and 10 tankers, comprising 4 Suezmax and6 Aframax, with a combined deadweight tonnage of over 1.3 million tons. Source : PortNews

The Danish flagged TSHD NJORD Rrainbowing at the discharge location near the Dutch town s Gravenzande.Photo : Christiaan van den Berg

Unexpected uptick in chartering activityof 4,100-4,500 TEUers in July

THERE has been a sudden unexpected increase in the number of handy panamax vessels ranging in size from 4,100-4,500 TEU being chartered during the second and third weeks of July, after nine ships were fixed or extended, andone more vessel is still on subjects.

This spurt in chartering activity comes after months of sluggish demand for ships of this size owing to severeoversupply of such vessels, notes Alphaliner. But the upsurge in activity has failed to produce any significant increasein time charter rates. According to the report, Panamax units currently command charter rates of between US$8,500

and $9,500 per day, depending on the vessels' specifications, the trade routes it will ply and the duration of theemployment period. "Such rates can only cover daily operating expenses, and are insufficient to cover capital costs,"said the report.

It said Seaspan will charter to Hapag-Lloyd two 4,252-TEU ships, the SEASPAN DALIAN and the SEASPANFELIXSTOWE, for two years at a "bargain" rate of $9,000 per day given they are modern ships. The vessels will bedeployed on Hapag-Lloyd's Mediterranean-US trades. "The German carrier will need to replace owned ageing shipsof 2,800-3,300 TEU on its transatlantic services. These two units will help to keep its loop costs at a competitive levelfor the next two years," the report. Taiwanese shipping line Yang Ming is chartering for two to three months the4,380 TEU MORANTO, a 'Daewoo 4400' type with 360 reefer plugs, at $8,500 per day, which is described as beingat the low end of the market. The ship will join the carrier's China Gulf Express (CGX) service that covers the tradebetween the Far East and Middle East. On the high end, NYK is chartering the 4,252 TEU JPO VOLANS, which isfitted with 550 reefer plugs for six months at a rate of $9,500 per day. Source : Schednet
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The MAGELLAN STRAIT enroute BCW Pier 9 in Rotterdam-Waalhaven during a test trip for Seatrade to sail with a189 mtr vessel at this Pier in the future , onboard the vessel were (Test)Pilot Lex van de Sanden and severalofficials of the Port of Rotterdam Authority and Seatrade Photo : Stephan Grol

. PHOTO OF THE DAY ..

Kindly find attached pic of the 2013 built NLD flag semi-submersible heavy lift vessel DOCKWISE VANGUARDapproaching Grand Harbour, Malta loaded with the semi-submersible oil rig NOBLE PAUL ROMANO on Tuesday 23rdJuly ,2013. Photo : Capt. Lawrence Dalli - www.maltashipphotos.com
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